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Mar 18, 2013
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morgan stanley is reaching out to do something interesting. gary is not going to go to an entity in which he believes the stock of that entity will fall. >> did he bulldoze? >> i agree with the points he's making. i'm long on financials. from a trading aspect, perception is reality as you well know. whether it's true or not, when there's concern out of europe, morgan stanley gets hit first and hardest. i want to stay long on the jpmorgans but morgan stanley is sittingprecariously on the long day average. if the banks go below the $22 range i think it's going back to 20. >> stephanie, who won? >> i think mike did, not necessarily for the european commentary but because i think the global wealthy management piece they're building and will buy the remaining piece, that has a lot lower returns and will be a larger portion of the total company obviously. to me, if you're play iing capil markets, georgia, oldman sachs way to go and sold off is the stress test. >> tell us who you think won the debate. tweet us using either #bull or #bear. we'll have
morgan stanley is reaching out to do something interesting. gary is not going to go to an entity in which he believes the stock of that entity will fall. >> did he bulldoze? >> i agree with the points he's making. i'm long on financials. from a trading aspect, perception is reality as you well know. whether it's true or not, when there's concern out of europe, morgan stanley gets hit first and hardest. i want to stay long on the jpmorgans but morgan stanley is sittingprecariously on...
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Mar 11, 2013
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that deal is inside the morgan stanley company, it gets done by the morgan stanley investment banking division. you wouldn't believe how much business at major wall street firms these brokerage firms get done outside the firm from their brokerage department. gary's job is to keep that internally, work with the brokers to deal with different parts of the firm. this is a fairly coe job in the firm. -- key job in the firm. he will report to greg fleming, but if you take the top five people at the firm, i think you could probably say gary is one of those right now, and it's kind of an interesting transition. he went from money manager, longtime money manager, i knew him well when he was at newberg and berman. newberg and berman was a unit of lehman brothers. he was one of my sources during that time. he saw the lehman brothers stuff come very r5er. he left in september of 2008, and then after that he had a two-year noncompete, and, you know, after taking some time off he's been, he worked at cnbc, and now he's here. so this is a, this is a pretty interesting development. if you own morgan
that deal is inside the morgan stanley company, it gets done by the morgan stanley investment banking division. you wouldn't believe how much business at major wall street firms these brokerage firms get done outside the firm from their brokerage department. gary's job is to keep that internally, work with the brokers to deal with different parts of the firm. this is a fairly coe job in the firm. -- key job in the firm. he will report to greg fleming, but if you take the top five people at the...
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Mar 29, 2013
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but i'll say, "no, morgan stanley." [ticking] >> this is shaybah, a desert wilderness where temperatures can reach 135 degrees. beneath these sand dunes lie 18 billion barrels of oil, more than four times the proven reserves of alaska. and it's costing billions and billions to tap into it. with all the talk about kicking our addiction to foreign oil, the kingdom of saudi arabia is doing everything it can to keep the oil age going. let me be blunt: is it your hope to prevent a switch away from oil? somebody said the country is the oil business. i mean, you absolutely need to do this for your own survival. >> and what's wrong with that? [ticking] >> when the u.s. oil companies came here in the '40s and '50s, the americans moved into the area with their families and developed it to suit their tastes and their way of life. they created a replica of american suburbia. today you could be in the outskirts of houston or los angeles. it's almost like it's an enclave within saudi arabia. it's--different from the rest of the count
but i'll say, "no, morgan stanley." [ticking] >> this is shaybah, a desert wilderness where temperatures can reach 135 degrees. beneath these sand dunes lie 18 billion barrels of oil, more than four times the proven reserves of alaska. and it's costing billions and billions to tap into it. with all the talk about kicking our addiction to foreign oil, the kingdom of saudi arabia is doing everything it can to keep the oil age going. let me be blunt: is it your hope to prevent a...
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Mar 25, 2013
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i'd go with morgan stanley. >> split here on this side. >> yeah, i'm going to go with morgan stanley on this one. i do like morgan stanley a little bit loafer, probably closer to 20. but i think inner jpmorgan, there's a nontrivial risk that jamie dimon is not there. >> oh, come on, really? >> i don't know. >> that's cold. >> there's a doj inquiry now. >> investigation. >> there's a lot of stuff. >> way to start a rumor. >> my thoughts, no rumor. bk's personal thoughts. >> all right. pete? >> you know, i think it is going to be a nail biter to the point of the guys, but when you look at morgan stanley and the smith barney portion of it and look at the book value versus where it's presently trading, i think jpmorgan's got upside but not as much upside as morgan stanley. >> this is a relative call here. on the desk, morgan stanley wins the vote. but based on our twitter votes, jpmorgan is the winner. it doesn't matter. morgan stanley advances to the next round. >> there we go. >> because the audience only counts as one. even though they're -- >> are we going to go through this for the
i'd go with morgan stanley. >> split here on this side. >> yeah, i'm going to go with morgan stanley on this one. i do like morgan stanley a little bit loafer, probably closer to 20. but i think inner jpmorgan, there's a nontrivial risk that jamie dimon is not there. >> oh, come on, really? >> i don't know. >> that's cold. >> there's a doj inquiry now. >> investigation. >> there's a lot of stuff. >> way to start a rumor. >> my...
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Mar 11, 2013
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morgan stanley planning to appoint gary kaminsky as the brokerage unit. this is being planned on according to a source we'll have more 3:00 p.m. eastern hour on "countdown to the closing bell". tracy: gary wendt from neuberger berman to cnbc. back to the business where the money is. ashley: i guess so. tracy: speaking of money, it keeps flowing into exchange traded fund that track the s&p 500. will this market momentum push the benchmark index to a record high? sandy smith with today's trade. hey, sandy. >> talk about the dow record but talk about the s&p 500? this is broader gauge with the stock market. s&p is flirting with highs of the session at 1554. let me quickly remind you where the record high is. 11 points from where it is now hit in october of 2007. 1565 is the closing high to keep in mind there flip the screen. you will see the intraday high to watch is just above there at 15, sorry, 157 of. that is another number to watch -- 1576. we flirt with all-time highs on the session. as you look at s&p 500 year-to-date it is underperforming the dow, 9%
morgan stanley planning to appoint gary kaminsky as the brokerage unit. this is being planned on according to a source we'll have more 3:00 p.m. eastern hour on "countdown to the closing bell". tracy: gary wendt from neuberger berman to cnbc. back to the business where the money is. ashley: i guess so. tracy: speaking of money, it keeps flowing into exchange traded fund that track the s&p 500. will this market momentum push the benchmark index to a record high? sandy smith with...
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Mar 11, 2013
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make it a bigger preference out morgan stanley. he will be the guy that coordinates the effort between the various departments inside. that is pretty important. morgan stanley brokers deal with a lot of high individual people. they send those deals to other firms. they keep profits internally and boost that share price. this is not a commlete done deal. they have been in negotiations for the last six weeks. the guy who heads the wealth management department is likely to offer this, officially, later on today and he would be named sometime tomorrow morning unless, of course, they speed everything up because of our reporting which is a possibility. that is where we are right now. a fascinating story. connell: was an incident, i guess, where he had spoken out against warren buffett. he called him a hypocrite, or whatever. charlie: i do not think you leave a place and go to a big waste. this is a pretty amazing job. gary would not comment on this thing. morgan stanley would not comment. i have sources inside the firm. i bet my pinky th
make it a bigger preference out morgan stanley. he will be the guy that coordinates the effort between the various departments inside. that is pretty important. morgan stanley brokers deal with a lot of high individual people. they send those deals to other firms. they keep profits internally and boost that share price. this is not a commlete done deal. they have been in negotiations for the last six weeks. the guy who heads the wealth management department is likely to offer this, officially,...
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Mar 12, 2013
03/13
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david darst, morgan stanley smith barney chief investment strategist. closing bell -- is this going to be another record day? i don't know. we're down about 9 points. will it be a rush to the flat line? well, if it isn't a record day, there may be one stock to blame. i'm going to tell you what it might be after the break. stay tuned. you have to see this finish, five minutes to go. ♪ today is gonna be an impoant day for us. you ready? we wanna be our brother's keeper. what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanes are now powering some of america's biggest cities. siemens. answers. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... deltis looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not sim
david darst, morgan stanley smith barney chief investment strategist. closing bell -- is this going to be another record day? i don't know. we're down about 9 points. will it be a rush to the flat line? well, if it isn't a record day, there may be one stock to blame. i'm going to tell you what it might be after the break. stay tuned. you have to see this finish, five minutes to go. ♪ today is gonna be an impoant day for us. you ready? we wanna be our brother's keeper. what's number two we...
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Mar 8, 2013
03/13
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morgan stanley and goldman sachs. >> what do you make of it, though? from an investment standpoint, i've got traders coming through my show every day, talking about goldman. buy goldman, buy jpmorgan, best in breed. best in class. are they right, are they wrong? >> they're not wrong about the companies. the question is what about the stocks? and i think right here one of the concerns has to be is that the federal reserve does not want capital, large amounts of capital coming out of these companies. so you have to be somewhat cautious on those names not because of what they're doing as businesses but from the ability of the money they're earning to come back as shareholders. >> as well scott when i say bye-bye goldman sachs this is the equivalent of saying nouriel roubini is right the end of the world is coming that's why you don't want to own morgan stanley or goldman sachs. within the content of the stress test we're incomp rating the shock that those markets would feel. if you think that's going to occur yes, sir they suffer more than anything else.
morgan stanley and goldman sachs. >> what do you make of it, though? from an investment standpoint, i've got traders coming through my show every day, talking about goldman. buy goldman, buy jpmorgan, best in breed. best in class. are they right, are they wrong? >> they're not wrong about the companies. the question is what about the stocks? and i think right here one of the concerns has to be is that the federal reserve does not want capital, large amounts of capital coming out of...
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Mar 25, 2013
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doesn't have capital of jpmorgan, morgan stanley 22% owned a mission bc. this is an agreement between the two firms did in fact the financial crisis where these we helped bail them out in 2008. from what i understand, from morgan stanley, they will put up a lot or part of the financing, probably coming with debt that is cheap right now. they are negative zero over there. liz: the stock 14.55 right now. >> many are surprised there is this much interest. blackstone is interesting. they will make money off of the advisory fees, so take them out of it, but blackstone, i believe is a former partner at lex own that had worked at dell. i think there are some synergies here. there is some connection with dell or silver lake or something. liz: raise your hands if you have a dell computer. charlie: if there is a business here. have you ever seen my cell phone? here is the theory, they can change, it is easier to do that as a private company a to post a public company. that was the theory behind the silverlake deal, the blackstone bid on this thing you can retool it.
doesn't have capital of jpmorgan, morgan stanley 22% owned a mission bc. this is an agreement between the two firms did in fact the financial crisis where these we helped bail them out in 2008. from what i understand, from morgan stanley, they will put up a lot or part of the financing, probably coming with debt that is cheap right now. they are negative zero over there. liz: the stock 14.55 right now. >> many are surprised there is this much interest. blackstone is interesting. they will...
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Mar 14, 2013
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morgan stanley and goldman sachs near the bottom. today, when we got the formal ratios, including what the bank planned to pay to shareholder, we again saw morgan stanley and goldman sachs near the bottom. jpmorgan chase far behind. the fed said only conditionally approved jpmorgan and goldman sachs because they wanted them to improve the way that they were planning to distribute this capital, because they weren't planning for the risks that were as steep as the fed planned. when you look at numbers, what does that mean? how much of a capital buffer, larry, do banks have in terms of boosting what they have in the portfolios. you look at the list, you see the big banks that have less of an exposure to investment banking or the overall-pro file of the bank. toward the top, faring better and this will bring back the debate as far as should the big banks be broken up? i don't think they should. the bigger you are, the lest investment banking you have the safer the fed says you are. >> this will be a hell of a debate. morgan stanley, gold
morgan stanley and goldman sachs near the bottom. today, when we got the formal ratios, including what the bank planned to pay to shareholder, we again saw morgan stanley and goldman sachs near the bottom. jpmorgan chase far behind. the fed said only conditionally approved jpmorgan and goldman sachs because they wanted them to improve the way that they were planning to distribute this capital, because they weren't planning for the risks that were as steep as the fed planned. when you look at...
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Mar 14, 2013
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morgan stanley hopefully will generate their returns. the question going forward for goldman, when account 10% roe become a 14% roe and can morgan stanley get there. >> regardless of whether these banks will be able to return a lot of the capital to shareholders, do you agree with that sentiment? >> well, we just had a meeting with the cfo of goldman this week and it's tough. they themselves don't really know where and when returns will ultimately go. there's a big mystery as to whether you can get to 15 or above. i think the risk weighted assets are going to be take some time, take about two years before we really have the answers. it is a bit of a leap of faith. the fundamentals right now if you look at current conditions, m and a is doing great but it is not a big business for those guys. trading is kind of sluggish and everything else is just okay. >> we'll leave it there. thanks for your time. >>> want to note that treasury secretary jack lew will make his first official trip today, heading to atlanta to visit a se siemen's facility
morgan stanley hopefully will generate their returns. the question going forward for goldman, when account 10% roe become a 14% roe and can morgan stanley get there. >> regardless of whether these banks will be able to return a lot of the capital to shareholders, do you agree with that sentiment? >> well, we just had a meeting with the cfo of goldman this week and it's tough. they themselves don't really know where and when returns will ultimately go. there's a big mystery as to...
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Mar 25, 2013
03/13
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who is behind the dell, blackstone deal, morgan stanley. guess who is behind morgan stanley? fox tell sources telling fox business network, mitsubishi will provide a chunk of this financing. their relationship with mitsubishi is coming handy within this deal. may provide a margin of difference to get the blackstone deal done and approved. carl icahn is in this as well. i'm dubious of icahn's bid is noted greenmailer. kind of along for the ride. put your money in. buy a chunk of stock. you basically profit off the fact that other more serious buyers, i don't think carl icahn is serious buyer of dell, although he has a lot of money, i just don't see it. i don't believe it. but dell's being financed by morgan stanley which is being financed by mitsubishi. their relationship with mitsubishi helped tremendously getting advisory role. in terms of rajaratnam, clearly the younger brother is being indicted. he is pleading not guilty. i note a little bit about this because i'm writing a book about this. one of the interesting fact people forget on this whole story there wouldn't have b
who is behind the dell, blackstone deal, morgan stanley. guess who is behind morgan stanley? fox tell sources telling fox business network, mitsubishi will provide a chunk of this financing. their relationship with mitsubishi is coming handy within this deal. may provide a margin of difference to get the blackstone deal done and approved. carl icahn is in this as well. i'm dubious of icahn's bid is noted greenmailer. kind of along for the ride. put your money in. buy a chunk of stock. you...
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Mar 18, 2013
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elsewhere, morgan stanley upgrading hewlett-packard. yes, hp getting an upgrade from morgan stanley from an overweight to an equal weight and they cite positive momentum in free cash flow and in earnings and another wall street call for best buy. is the return of the zombies this morning. j.p. morgan resuming coverage of the electronics retailer at overweight and slapping a fat $29 price target on best buy. >> isn't that sweet? thank you very much. >> the upgrade, best buy with a $29 price target? >> big decliners at 2012 revenge. >> penguins. >> is there a best buy in cyprus? wouldn't that be interesting if they had a store in cyprus? wouldn't that be a combination of ironies and greenspan shopping there. >> it's right next to the bank of like. >> we'll keep following the banking details out of cyprus and we are setting up for a lower open. also, a record order not for boeing, for airbus from one of boeing's formerly top customers. also ahead, the latest read on the housing market comes in in less than an hour and we'll talk about it w
elsewhere, morgan stanley upgrading hewlett-packard. yes, hp getting an upgrade from morgan stanley from an overweight to an equal weight and they cite positive momentum in free cash flow and in earnings and another wall street call for best buy. is the return of the zombies this morning. j.p. morgan resuming coverage of the electronics retailer at overweight and slapping a fat $29 price target on best buy. >> isn't that sweet? thank you very much. >> the upgrade, best buy with a...
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Mar 14, 2013
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morgan stanley just barely squeaked buy by in their capital plan approval by the federal reserve. they were down there with goldman sachs and jpmorgan chase. what the federal reserve is on joking to the capital -- objecting to the capital plan process. they didn't like the way the banks were going about their plans. ally financial and bb&t getting rejected the, bb&t did pass the stress test last year. its capital looks solid but the federal reserve is still worried about its balance sheet. bb&t has been on acquisition spree. it bought crump insurance and another bank. federal reserve is being very close to the vest. they're not saying what they did not like in the bb around t plans. the fact you see smaller regionals getting approved is an indication basically the banking sector is healing. what is really interesting too, i've got to tell you, david, the fact that american express, the breaking news here, american express resubmitted their capital plan before the announcement today. what happened was the federal reserve initially rejected american express's dividend hike. they wen
morgan stanley just barely squeaked buy by in their capital plan approval by the federal reserve. they were down there with goldman sachs and jpmorgan chase. what the federal reserve is on joking to the capital -- objecting to the capital plan process. they didn't like the way the banks were going about their plans. ally financial and bb&t getting rejected the, bb&t did pass the stress test last year. its capital looks solid but the federal reserve is still worried about its balance...
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Mar 21, 2013
03/13
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and the big jump in shares of blackberry thanks to a morgan stanley upgrade. morgan stanley saying now there may be room in the smart phone market that's dominated by an droid and the iphone operating system for blackberry. the vote of confidence comes just two days before blackberry's make or break z-10 goes on sale at at&t stores. blackberry rose $16, that's a gain of almost 6.5%. >> and, suzie, one of the roadblocks to the housing recovery has been tight mortgage credit. rates may be low, but they're only good if you can get them. as we look at the spring buying season, lenders are starting to ease up. not so much on their standards, but on the types of loans they can offer. >> after being turned down for a mortgage last year, leah harris has been renting in washington, d.c. now, she is finally moving into a home of her own. >> i tried last year at about the exact same time and nothing was different than it is now. same income, same assets, pretty much everything was identical. >> in time for spring, mortgage credit is beginning to thaw. specifically the re
and the big jump in shares of blackberry thanks to a morgan stanley upgrade. morgan stanley saying now there may be room in the smart phone market that's dominated by an droid and the iphone operating system for blackberry. the vote of confidence comes just two days before blackberry's make or break z-10 goes on sale at at&t stores. blackberry rose $16, that's a gain of almost 6.5%. >> and, suzie, one of the roadblocks to the housing recovery has been tight mortgage credit. rates may...
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Mar 4, 2013
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>> i like morgan stanley. i get the opportunity it hear one of their regional brokers management talk this week and williamsburg virginia. two thumbs up for morgan stanley. >> so banks, i mean, you have high hopes for most of the banks? >> morgan stanley, j.p. morgan. i think goldman is also a good buy. >> joe? >> surprising to me that there are more -- while a go we talked about hewlett-packard. we got the $20 and now there is a long neutral position, get out. >> simon? >> the housing stocks going up. earnings up 130%. if you like housing, own eagle materials. >> dr. j? >> stocks easing back a little bit today. buy into this one. a lot of activity on april, 35 calls. that's what did it for us. >> surging for its next move. is it going to be up? is it going to be down. you have a jobs report at the end of the report. anthony, you see that as the next big catalyst? the jobs report? >> either way? >> it is going to be a short term catalyst but obviously the mega big catalyst is with the fed. >> let me jump in. i
>> i like morgan stanley. i get the opportunity it hear one of their regional brokers management talk this week and williamsburg virginia. two thumbs up for morgan stanley. >> so banks, i mean, you have high hopes for most of the banks? >> morgan stanley, j.p. morgan. i think goldman is also a good buy. >> joe? >> surprising to me that there are more -- while a go we talked about hewlett-packard. we got the $20 and now there is a long neutral position, get out....
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Mar 22, 2013
03/13
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>> i think we had an analyst on that said, the biggest exposure you can get is morgan stanley. the least you can get is goldman. it was counter intuitive but you want to play it on that. you want to buy goldman on the dip. >> tim? >> valuation wise, i still like bank of america and one of the big calls this week, a lot of people have said, you don't need major growth. you just need normalization, the balance sheet to continue on. so, there seems to be a lot of momentum in addition to valuation supporting this sector. this, to me, is how you play growth in america and global deflation, which is what i think we have. >> blackstone got whacked this week. just people taking profits on the back of what's been a tremendous run in the name. bla blackstone here, i think, you be long that name. >> next trade here, coal prices have been under pressure from oversupply and the record production of nat gas. have we seen the bottom in coal now that nat gas prices are rebounding? let's get the latest from francisco blanche. you said the worst is not yet over for coal? >> look, we think for gl
>> i think we had an analyst on that said, the biggest exposure you can get is morgan stanley. the least you can get is goldman. it was counter intuitive but you want to play it on that. you want to buy goldman on the dip. >> tim? >> valuation wise, i still like bank of america and one of the big calls this week, a lot of people have said, you don't need major growth. you just need normalization, the balance sheet to continue on. so, there seems to be a lot of momentum in...
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Mar 27, 2013
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. >> morgan stanley goes to a sell and they say iron ore sales could be cut in half. this is one where the iron is locked in the middle of the country and it's not as easy to get to where other places are and they are saying that there will be a lot more iron being produced in the country. so, wow! i don't know what to say. these were very, very damning. goldman upgraded and they had a sell. congratulations to goldman. a really good play. >> cut in half. >> this is 2007 and i'm wait for example freeport to get it. we heard melissa talk about dr. copper and that's not doing so well. be careful with these stocks. they're the polar opposite of general mills. >> the polar opposite. >> at the same time, the new york times has a piece on j.p. morgan, eight separate agencies investigating the bank at one level or another. >> fcc, cftc, attorneys general, fbi and their legal bill must be incredible. this made-up allegation which has been heard from time to time that they had an ability to know. >> or suspect. >> yeah. to me, i don't know. everybody knew, so to speak when they
. >> morgan stanley goes to a sell and they say iron ore sales could be cut in half. this is one where the iron is locked in the middle of the country and it's not as easy to get to where other places are and they are saying that there will be a lot more iron being produced in the country. so, wow! i don't know what to say. these were very, very damning. goldman upgraded and they had a sell. congratulations to goldman. a really good play. >> cut in half. >> this is 2007 and...
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Mar 14, 2013
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morgan stanley coming out with comments on france telecom. led the pack with a gain of almost 6%. with today's gains in europe, the broad market, the stock 600 has come back to where we were in the summer of 2008. not yet, of course, at record highs in europe, scott. as you'll be aware. europe is still underperforming these american markets. back to you. >> certainly is. simon hobbs, thank you, as always. >>> the s&p less than 20 points away now from its all-time interday high. than far from its closing high. so for more on what's going on, let's go to jackie deangelis, the host of "huchs now." >> that's right -- "futures now." >> that's right. the real question we have to ask is, is the s&p next stop 1,600? how should you play it? we have anthony grizame at the nymex. is it too far too fast for you, or are you comfortable with the pace? >> i thought it was too far too fast 100 points ago. i'm going to stop fighting it. we've had positive numbers in retails sales, jobs numbers. and the economy is growing overall. plus you have q.e. i'm not going fight this. i think we get to 1,600
morgan stanley coming out with comments on france telecom. led the pack with a gain of almost 6%. with today's gains in europe, the broad market, the stock 600 has come back to where we were in the summer of 2008. not yet, of course, at record highs in europe, scott. as you'll be aware. europe is still underperforming these american markets. back to you. >> certainly is. simon hobbs, thank you, as always. >>> the s&p less than 20 points away now from its all-time interday...
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Mar 7, 2013
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morgan stanley was trading at 50% at tangible book. now, it's 90%. so, it's still cheap. but not as wildly cheap as it was a year ago. >> it's karen. let me ask you something. we have a chart, i don't know if we have it up on the screen, about how much a lot of these big money center banks have appreciate. and, to me, it looks quite underwhelming. i would think it would be fine to keep the wading you have. by their nature, the institutions are very, very levered. so, to have 100%, 200% increase in the markets since '09 is really not that big. >> yeah, that's exactly right. but we do have to keep in mind that some of the businesses are not as good as they used to be. the fixed income business is more -- there's more transparency. spreads are tighter than they used to be. a lot of it is going in black boxes, as opposed to people making good, widespread. so, some of these businesses will never earn 20% returns on equity than they did in 2007. but still very, very good businesses that are still cheap. >> when you look at the stress tests. a lot of the derivatives don't come u
morgan stanley was trading at 50% at tangible book. now, it's 90%. so, it's still cheap. but not as wildly cheap as it was a year ago. >> it's karen. let me ask you something. we have a chart, i don't know if we have it up on the screen, about how much a lot of these big money center banks have appreciate. and, to me, it looks quite underwhelming. i would think it would be fine to keep the wading you have. by their nature, the institutions are very, very levered. so, to have 100%, 200%...
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Mar 27, 2013
03/13
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giting a downgrade from morgan stanley to an underweight from an equal weight. obviously the double whammy of coal and iron ore not good. >> i think this is more structural for cliffs because if you look at iron ore prices they're down about 5% year over year. if you look at where iron ore prices and where cliffs were, it's a $75 stock a year ago. they're really losing pricing power. iron ore prices have found somewhere at least a near-term range. i don't think they can necessarily go back to 180. but they're not going to 60. this stock is pricing in 6 0ds iron ore. i jumped in a little earlier around 23 bucks on this stock. i am not running out the door here. people are looking at the valuation, there is value but it really comes with where they're seeing iron ore prices. a lot of people run out the door. >> even the smart money can't seem to get it wrong on gold or get it right. prominent hedge fund manager john paulson bet big that the gold miners were the best way to play gold as the precious metal skyrocketed in the last several years. but that hasn't been
giting a downgrade from morgan stanley to an underweight from an equal weight. obviously the double whammy of coal and iron ore not good. >> i think this is more structural for cliffs because if you look at iron ore prices they're down about 5% year over year. if you look at where iron ore prices and where cliffs were, it's a $75 stock a year ago. they're really losing pricing power. iron ore prices have found somewhere at least a near-term range. i don't think they can necessarily go...
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Mar 18, 2013
03/13
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i think these shares have room to run here. >> you agree with morgan stanley. what do you think, steve? >> abfwal, i understand what you're talking about technically. fundamentally it's unfair to compare hp now to an hp from the 1990s when it was dominating a very hot market, pcs. the reality is right now hp is still primarily a pc and printer company. it has been so far irrelevant in mobile. it's trying to get into services. but it's butting up against some very intrenched, talented companies like ibm and oracle. >> good point, steve. good point, steve. but i think that all those concerns you raise are already priced in the chart. those were reflected by that severe selling trend that, again, capitulation bottom at the end of last year. i think investors are now focused on meg whitman's 2013 fix and rebuild, focus on cost cuttings. 2014 is likely to be the transformed year. then 2015 acceleration. i think the chart is telling us that meg whitman and her team are really going to surprise in terms of what they're doing with product. this year is not about the to
i think these shares have room to run here. >> you agree with morgan stanley. what do you think, steve? >> abfwal, i understand what you're talking about technically. fundamentally it's unfair to compare hp now to an hp from the 1990s when it was dominating a very hot market, pcs. the reality is right now hp is still primarily a pc and printer company. it has been so far irrelevant in mobile. it's trying to get into services. but it's butting up against some very intrenched,...
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Mar 19, 2013
03/13
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morgan stanley's adam parker will tell us what's behind the conversion. why he's taking his target prices up. >>> also, nfl teams are getting ready to make big investments in college players at next month's draft, but the league is about to make its own investments that could score a big return. a top nfl executive explains why the league is kicking off this partnership with a private equity firm coming up later on the "closing bell." [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i hel
morgan stanley's adam parker will tell us what's behind the conversion. why he's taking his target prices up. >>> also, nfl teams are getting ready to make big investments in college players at next month's draft, but the league is about to make its own investments that could score a big return. a top nfl executive explains why the league is kicking off this partnership with a private equity firm coming up later on the "closing bell." [ female announcer ] it's time for the...
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Mar 8, 2013
03/13
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morgan stanley is caught in the hodgepodge. jpmorgan is in very good shape. goldman? they just named this guy as head of mergers and acquisitions. he's got a fresh and aggressive attitude with a global focus. i believe he becomes the rainmaker for goldman sachs going forward. peek under the shroud of dodd/frank. you see investment bankers making money for shareholders without that baggage of used leverage. goldman sachs at ten times a probably way too low 2014 number, it makes sense if they're taking gigantic risks, swinging around billions of their own money, way too low a p/e ratio. sure we want to catch the next takeover if they're coming fast and furious but maybe we should go for the companies that will win most consistently, the fee generating investment banks that i think will crush the earnings estimates during the next reporting period. stick with cramer. zap technology. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be tra
morgan stanley is caught in the hodgepodge. jpmorgan is in very good shape. goldman? they just named this guy as head of mergers and acquisitions. he's got a fresh and aggressive attitude with a global focus. i believe he becomes the rainmaker for goldman sachs going forward. peek under the shroud of dodd/frank. you see investment bankers making money for shareholders without that baggage of used leverage. goldman sachs at ten times a probably way too low 2014 number, it makes sense if they're...
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Mar 11, 2013
03/13
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gary will join morgan stanley wealth management as vice chairman in april. currently with capital market. and federal employees now on the hook for three and a half billion dollars in unpaid taxes in 2011. that is according to a report from the irs. nearly 3% jump from the year before. the most out of all federal departments and agencies. that is the latest from the fox business network, giving you the power to prosper. ♪ ♪ liz: the convenience of ordering food from home. just your favorite restaurant just that a lot easier thanks to modern technology. a company that enables customers to order food right from their computer, smart found a more tablet. a company does not a lot of success. they expect $100 million in orders this year. david: joining me now, ceo, jonathan. great to see you. >> thanks for coming in. appreciated. the 100 million is the money that travels through your organization. you take a cut of that for your services. what percent of that hundred million do you get? how you put that to work? >> ranges. 10-15 percent is the way to think ab
gary will join morgan stanley wealth management as vice chairman in april. currently with capital market. and federal employees now on the hook for three and a half billion dollars in unpaid taxes in 2011. that is according to a report from the irs. nearly 3% jump from the year before. the most out of all federal departments and agencies. that is the latest from the fox business network, giving you the power to prosper. ♪ ♪ liz: the convenience of ordering food from home. just your favorite...
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Mar 10, 2013
03/13
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goldman sachs, they cannot a bank holding company licensed, morgan stanley got a bank holding company licensed. they got immediate access to the fed window. there was an insurance company in hartford that said go out and buy a small bank for $10 million, which they did. they had access to the fed window. aig was denied access to any government-funded. finally, olson calls -- hank paulson calls and says we're going to give you one plan, take it or leave it. this is the second day of the treasury. give you $85 million at 14.5 percentages to anybody who is barred from the fed when it is barring at about one and a half to 2%. and what we want we will take, 79.5% of the equity. of the company. and incidentally you're fired. i'm putting in somebody else. somebody else happened to be ted ligety goes on the goldman board. so he asked to sign the agreement that he had just told about connie said i'm not going to summit, you just fired me. so he signed the agreement, resigned to the board retroactively three days later. i've never heard of the secretary of the treasury in the united states call
goldman sachs, they cannot a bank holding company licensed, morgan stanley got a bank holding company licensed. they got immediate access to the fed window. there was an insurance company in hartford that said go out and buy a small bank for $10 million, which they did. they had access to the fed window. aig was denied access to any government-funded. finally, olson calls -- hank paulson calls and says we're going to give you one plan, take it or leave it. this is the second day of the...
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Mar 10, 2013
03/13
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goldman sachs got -- they -- they got a bank holing liangs, morgan stanley got one, they got media access to the fed window. there was an insurance company in hartford said go out and buy a small bank for $10 million, which they did. they had access. aig was denied access to any government funds. timely, he calls says we're going to give you one plan. take or leave it. this is secretary of treasury calling williams saying give you $85 billion at 14.5% interest. everyone borrowing from the fed window was borrowing at 1.5%-2%, and we want -- we're going to take 79.5% of the equity of the company. incidentally, you're fired. i'm putting in somebody else. somebody else happened to be, on the board, so he asked williams to sign that agreement that he had just told them about. i'm not going to sign it, you just fired me, and so the goldman board signed the agreement, resigned to the goldman board retroactively three days later. now, i never heard of the secretary of the treasury of the united states calling a company ceo and firing him. that's the job of the board of directors. not the secretar
goldman sachs got -- they -- they got a bank holing liangs, morgan stanley got one, they got media access to the fed window. there was an insurance company in hartford said go out and buy a small bank for $10 million, which they did. they had access. aig was denied access to any government funds. timely, he calls says we're going to give you one plan. take or leave it. this is secretary of treasury calling williams saying give you $85 billion at 14.5% interest. everyone borrowing from the fed...
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Mar 27, 2013
03/13
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this comes on the heels of morgan stanley saying the rollout in canada is on track. the firm actually raised their estimates to move the shares higher. they have an overweight rating. obviously, wells fargo has been speaking with people in toronto. it has been received quite well in the prices. charles: absolutely. morgan stanley also opt their target on them this morning. time to check in on your money. ones that are of huge. u-haul, temper ketek. some of the disappointing one so far: all analyst chasers. i am blanking on rack space. i think i got to to you on that one. i will close that out. our next guest is a boxer with an amazing personal story. he has a huge fight coming up with floyd mayweather. robert joins us right now. congratulations on this. how are you feeling? >> i am feeling great. it is what i have been working on since i was nine years old. gerri: did you ever think that one day you would be a champ at this? >> that was the dream. watching fights growing up, that was the dream to become a world champion. charles: in your division, there has been a lo
this comes on the heels of morgan stanley saying the rollout in canada is on track. the firm actually raised their estimates to move the shares higher. they have an overweight rating. obviously, wells fargo has been speaking with people in toronto. it has been received quite well in the prices. charles: absolutely. morgan stanley also opt their target on them this morning. time to check in on your money. ones that are of huge. u-haul, temper ketek. some of the disappointing one so far: all...
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Mar 8, 2013
03/13
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i mean, notable goldman sachs and morgan stanley down 2%. any particular reason in your mind why they would be reacting somewhat negatively? >> the big brokers, so to speak, jpmorgan included, had perhaps lower than expected stress capital ratios, primarily due to the fed's positioning on what trading losses might be in a worse case scenario. keep in mind we have the whale from jpmorgan in regulator's minds at this point in time. and there could have been some overly conservative adjustments made there. >> so when goldman makes the front page of the financial "times" for its weakness, that is in general terms for investors a concern because it's the ultimate stressed environment in which they don't perform so badly? >> exactly. another way to look at it, they passed with flying colors, but there may be some reduction in the amount of return investors were expecting this year. we'll have to wait and see next week. >> anthony, if it's not a '13 story, how much confident are you that it's a '14 story or '15 stor sni. >> citi is a top pick right
i mean, notable goldman sachs and morgan stanley down 2%. any particular reason in your mind why they would be reacting somewhat negatively? >> the big brokers, so to speak, jpmorgan included, had perhaps lower than expected stress capital ratios, primarily due to the fed's positioning on what trading losses might be in a worse case scenario. keep in mind we have the whale from jpmorgan in regulator's minds at this point in time. and there could have been some overly conservative...
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Mar 18, 2013
03/13
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the federal reserve accepted the plans of citigroup, bank of america, morgan stanley and wells fargo, while goldman sachs and jpmorgan's were conditionally accepted, they have to revise their ask and go back for the third quarter. alli and bb & t's plans were rejected saying they did not have of a cushion in reserves should there be a serve economic downturn. sheila bair telling me this week the stress tests are very useful, even if they are not perfect. >> one of the positive things about these stress tests is we are getting more information out about what is on their balance sheet and what the impact of the losses could be in various stress scenarios. but, you know, it's an imperfect process and one that is evolving. we are in much better shape. well still have a ways to go, but we're in much better shape than europe, and i would take our banking system over
the federal reserve accepted the plans of citigroup, bank of america, morgan stanley and wells fargo, while goldman sachs and jpmorgan's were conditionally accepted, they have to revise their ask and go back for the third quarter. alli and bb & t's plans were rejected saying they did not have of a cushion in reserves should there be a serve economic downturn. sheila bair telling me this week the stress tests are very useful, even if they are not perfect. >> one of the positive things...
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Mar 18, 2013
03/13
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hewlett-packard on that morgan stanley upgrade. the analysts writing that ceo meg wittman is affecting a structural change and employee morale is improving. other tech names are getting a big microsoft intel. up on the day. on the losing side, online travel stocks like expedia, price line are trading in negative territory. both stocks trade at a premium through the s&p 500. sue, back to you. >> thank you. >>> to chicago where the bond market saw a flow. rick santelli is tracking the action for us over at the cme. hi, rick. >> hi, sue. indeed i think those that study history are more bugged by what's going on in cyprus than those that study charts or trade financials or any other market is evidence by how well they've come back. look at a two-day chart of tens. certainly rates are lower but many thought we would see a little bit more flights to safety. look at a year to date. lows of the year. if you look at the trench, the oats, their ten-year, pretty much the same pattern. the stock market, the dax in germany and the cac in france
hewlett-packard on that morgan stanley upgrade. the analysts writing that ceo meg wittman is affecting a structural change and employee morale is improving. other tech names are getting a big microsoft intel. up on the day. on the losing side, online travel stocks like expedia, price line are trading in negative territory. both stocks trade at a premium through the s&p 500. sue, back to you. >> thank you. >>> to chicago where the bond market saw a flow. rick santelli is...
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Mar 15, 2013
03/13
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morgan stanley up 22%, jpmorgan up 14%. will that continue? like pete said, in that group i think citi and bank of america are the cheap ones in that group and i would buy more of those. >> this is the key question greenspan raises today. he says stockings are still cheap. that's ultimately what still matters, whether you still think they are and whether other people thinking about getting into the market think they are as well. >> he's right. stocks are still cheap. if you look at corporate earnings when stocks were considered expensive in 2000, potential earnings of of $110 this year. you look at a day like today. pete talks about the fast money in the marketplace. some of the longer term money now is in trouble because they're underinvested right now. if you talk to the institutional side, they keep looking for the pullback they never seem to get. . they want to add to financial positioning but they don't get the opportunity. in the coming days you're going to see next week, the meeting, nothing changes there. you talk about global central
morgan stanley up 22%, jpmorgan up 14%. will that continue? like pete said, in that group i think citi and bank of america are the cheap ones in that group and i would buy more of those. >> this is the key question greenspan raises today. he says stockings are still cheap. that's ultimately what still matters, whether you still think they are and whether other people thinking about getting into the market think they are as well. >> he's right. stocks are still cheap. if you look at...
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Mar 19, 2013
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morgan stanley, bank of america, citigroup, that get lumped inn with the higher names. on the risk off days like yesterday they tend to underperform. irrespective of the fact that they have exposure to cypress or not. >> what about the smaller banks that you don't think will do as well? what happens to them for the rest of the year? do they decline? >> we think they underperform. we are biased of the bigger banks giving the evaluations are a little bit lower. they have more capital markets that we think will be a constructive place to be. and the environment that favors the smaller banks appears to be on hold at the moment. >> just before we let you go, which name excites you the most? >> overall, you know, i would say, i would say the bigger banks, citigroup and jpn morgan come to mind. >> jason, good to see you. >> thank you. >> coming up next, the president and ceo of liberty media. he'll tell us what is next for liberty. >>> and there's a real estate boom in miami. it's not americans feeling the comeback. who is buying and how they're dominating the markets. [ male
morgan stanley, bank of america, citigroup, that get lumped inn with the higher names. on the risk off days like yesterday they tend to underperform. irrespective of the fact that they have exposure to cypress or not. >> what about the smaller banks that you don't think will do as well? what happens to them for the rest of the year? do they decline? >> we think they underperform. we are biased of the bigger banks giving the evaluations are a little bit lower. they have more capital...
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Mar 28, 2013
03/13
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morgan stanley down graded the stock. it's down more than 70% over the past year. >> we have been reporting on paying for college, which for most students and their families involves taking out loans. as we wrap up the series, hitting the books, we report that with growing debt comes growing problems collecting it. >> reporter: $3.5 billion in student loans have gone bad in the first three months of the year alone. all told, $85 billion in defaulted federal student loans, nearly 7 million borrows. like jason, he is 46, graduated from bingham ton university with $20,000 in debt. he got sick, fell behind and interest and fees piled up. on that $20,000 in principal, he has paid $26,000, but the government said he owes more than $39,000. >> i never thought i would be pushing 50 years old and still talking about this. >> he said that he has been hounded by collection agents and now his wages are being garnished, at this rate, he will pay off his loans in his 70s. it's tough enough to collect on the student loans, but the probl
morgan stanley down graded the stock. it's down more than 70% over the past year. >> we have been reporting on paying for college, which for most students and their families involves taking out loans. as we wrap up the series, hitting the books, we report that with growing debt comes growing problems collecting it. >> reporter: $3.5 billion in student loans have gone bad in the first three months of the year alone. all told, $85 billion in defaulted federal student loans, nearly 7...
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Mar 20, 2013
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a morgan stanley says there may be room for niche midrange players. sue, back to you. >> thank you very much. to the bond market where rick santelli is tracking the action on the interest rate front. >> let's look at three major areas, three major charts going back to the last meeting to see what they've done. if you look at our ten-year, we're down 6 basis points since the last meeting. if you look at ten-year boon, they're down 32 basis points since the last meeting and you don't even believe what the euro did. it was at 135 in the next meeting. we're under 130. of course, we're going to have the statement and the head therapist for the economy, ben bernanke, will head to the casting couch and maybe those statements will move the statements. tyler, back to you. >> thank you very much as always. countdown to 2:00 p.m. rolls on and that, of course, will be followed by chairman bernanke's news conference that hits at 2:30. on our panel right now to discuss what's ahead for us, ben white, josh boke, neil irwin, a cl columnist with "the washington post,"
a morgan stanley says there may be room for niche midrange players. sue, back to you. >> thank you very much. to the bond market where rick santelli is tracking the action on the interest rate front. >> let's look at three major areas, three major charts going back to the last meeting to see what they've done. if you look at our ten-year, we're down 6 basis points since the last meeting. if you look at ten-year boon, they're down 32 basis points since the last meeting and you don't...
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Mar 27, 2013
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analysts at morgan stanley not fans. downgraded the minor stock to underweight saying and increase in the supply of iron ore pellets could hurt earnings. analysts at credit suisse cut their price target also. >> josh lipton, thanks. steve weiss and mike murphy had a heated debate over this very stock in the beginning of march. here's what they had to say. >> bmo downgraded the name, opened up at a 52-week low and it's rallied 3.5% from those levels. you don't sell this name down at 23 or 24. you buy it. >> murph there's such a thing as bottom fishing and laying down with dogs. i think you'll get flees. this stock is going lower. >> at least to now he's won the debate. the stock is down 23% since then. weiss, what do you got? >> in full disclosure, i did suggest that replay to the producers and sent them the link. here's what i think. i'm short the hp, i'm short valley and rio. it will increase by 40%. too many people focus on the spot price. guess what? nobody's paying the spot price. the contract prices are still low an
analysts at morgan stanley not fans. downgraded the minor stock to underweight saying and increase in the supply of iron ore pellets could hurt earnings. analysts at credit suisse cut their price target also. >> josh lipton, thanks. steve weiss and mike murphy had a heated debate over this very stock in the beginning of march. here's what they had to say. >> bmo downgraded the name, opened up at a 52-week low and it's rallied 3.5% from those levels. you don't sell this name down at...
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Mar 8, 2013
03/13
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goldman, jpmorgan and morgan stanley. these three came out of the stress test. goldman at the bottom of the heap and goldman sachs shares were sent lower today. today's stock performance aside, analysts do expect them to approve capital plans of all the nation's top six banks next week. bill? >> security, thank you very much. >>> which bank could be the best buy in light of the stress test results. st citi, the most improved or goldman sachs? let's talk numbers. goldman versus citi. on the technical side j.c. o'hara and fundamental side abigail doolittle with the seaport group and a cnbc contributor. abigail, would you buy either of these two banks? >> bill, perception is everything, and i think that these bank stress test results are likely to shift investor perception of risk in favor of citigroup and away from goldman sachs. citigroup looks more bullish. when we dig down on citigroup we see they have been doing all the right things, cut operating expenses and increased bad loan reserves and increased overall capital. all this makes it more likely that the fed
goldman, jpmorgan and morgan stanley. these three came out of the stress test. goldman at the bottom of the heap and goldman sachs shares were sent lower today. today's stock performance aside, analysts do expect them to approve capital plans of all the nation's top six banks next week. bill? >> security, thank you very much. >>> which bank could be the best buy in light of the stress test results. st citi, the most improved or goldman sachs? let's talk numbers. goldman versus...
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Mar 5, 2013
03/13
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the same thing for morgan stanley. they were going back and forth. that's not good price action. i'm looking out a month or two. i'm not trying to pick a top here. these are going to be positions that i work into. >> the price action of the overall market, dr. j, right out of the gates, we hit that record high, we nailed it, we stuck to it and you said -- >> stuck it. >> right. stuck it and we stuck with it, but we could have seen a selloff in the final hour as we've seen in the past. >> yeah, exactly. and i think a lot of folks were certainly looking for that. they were thinking, we're going to see that flip in the final hour, as maria and as you always say, the most important hour of the day. and instead, we didn't get the selling. people were scared. they were caught. i think all the bears that are out there are still chasing it. what would i do here? do what dan said, because i think that's good advice. you can snug up some puts underneath the market here. go out and buy something, too. because i think -- the reason vegas lets you play with chips and not cash is, then it does
the same thing for morgan stanley. they were going back and forth. that's not good price action. i'm looking out a month or two. i'm not trying to pick a top here. these are going to be positions that i work into. >> the price action of the overall market, dr. j, right out of the gates, we hit that record high, we nailed it, we stuck to it and you said -- >> stuck it. >> right. stuck it and we stuck with it, but we could have seen a selloff in the final hour as we've seen in...
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stanley or the union bank of switzerland as a business i mean you're talking about but you have career is him you know. there's a lot of yes but career in him in a business. when i think you know it's more like a charity a good thing you know you have and this is this is this is making the great the enemy of the good i mean all institutions read your max of aber all institutions devolve into bureaucracies are n.g.o.s more careerist than a hospital than a university than a radio station i mean i don't think so and the money while it's a lot of money and it's a great deal more money than it was let's say forty years ago is nothing compared to big business i mean you can't compare that ok clip what you think about that people calling it an industry. i think it's out of place as well at least look at it look at me look at my eighty look at haiti ok for a shape haiti is a good example well it turned into an industry sure you have n.g.o.s competing with how do you know there are injuries try to provide humanitarian relief you have some competition between them for them to maintain themselves
stanley or the union bank of switzerland as a business i mean you're talking about but you have career is him you know. there's a lot of yes but career in him in a business. when i think you know it's more like a charity a good thing you know you have and this is this is this is making the great the enemy of the good i mean all institutions read your max of aber all institutions devolve into bureaucracies are n.g.o.s more careerist than a hospital than a university than a radio station i mean i...
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Mar 20, 2013
03/13
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copper. >> morgan stanley had a point that they see recovery going on in copper. miners getting destroyed everywhere. you would think you'd see more of a recovery in copper. i think the move is overdone, i think the move in minors is overdone. also we haven't been playing from the long side, we've been playing from the commodity side. >> lululemon sliding 4% since they announced a major recall of the signature pant citing problems with the fabric, problems meaning transparency with the yoga pants. and so, mike, you're taking a look at the action there. what did you see? >> yeah, so we noticed activity in the april 60 puts. trading at about $1.70, bearish bets that the stock would be below 5830 by april exploration down another 8.5% from the 63, 65 level. this is a company trading at a reasonably high valuation and demonstrates some of the risks, i think, when a stock runs into trouble. my wife still buys their pants, though. >> hold on, can you explain this? maybe guy can explain this. transparency in their yoga pants. >> they're see through. >> when guy's doing a
copper. >> morgan stanley had a point that they see recovery going on in copper. miners getting destroyed everywhere. you would think you'd see more of a recovery in copper. i think the move is overdone, i think the move in minors is overdone. also we haven't been playing from the long side, we've been playing from the commodity side. >> lululemon sliding 4% since they announced a major recall of the signature pant citing problems with the fabric, problems meaning transparency with...
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Mar 28, 2013
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. >> and joining us is our friend, david darst, morgan stanley wealth management. and you guys raised your target on the s&p to 1600 this year. >> correct, but yet all of you are still concerned about the quality of earnings for the rest of the year. >> bill, two areas. number one is financials and number two is the consumer area. specifically, the consumer discretionary area. not the consumer staples, which is drug stocks and your food companies and your beverage companies. they're fine. but the consumer discretionary, which is travel, which is hotels, automobiles, that's what you want to see these jobless claims numbers that just came outer, 357,000 for the week. >> that's right, for the week. so, consumer confidence had a big hit. the conference board number, you saw it drop from 69 down to 58. so you need to see jobs that are created with good wages. that's one of the four ps is profits, personal income, production, and political dysfunction go away. that will help confidence. >> i'm going to sound like pollyanna, but doesn't the fed -- it doesn't council all o
. >> and joining us is our friend, david darst, morgan stanley wealth management. and you guys raised your target on the s&p to 1600 this year. >> correct, but yet all of you are still concerned about the quality of earnings for the rest of the year. >> bill, two areas. number one is financials and number two is the consumer area. specifically, the consumer discretionary area. not the consumer staples, which is drug stocks and your food companies and your beverage...
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Mar 13, 2013
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avoidance rhine hart, morgan stanley's chief economist. he joins us live from new york city. vince, welcome. >> thanks for having me. >> so it's reaching an inflection point. which way is it going? it seems to me the data would say it's going up. >> it's going up, but the inflection point is midyear. i'm on steve's camp that i do see some clouds in the very near term. we do have to get past the fiscal constriction. gasoline prices are hurting particularly low-end consumers. but the good news is politicians aren't going to do much more harm. they're going to probably do much good either and we'll see the resilience of a market economy show through. >> gas prices are coming down. the market doesn't seem to be concerned about what's happening in washington, almost relaying the message that you're irrelevant because we're going to new highs. >> i think politicians are in the process of getting -- getting out of the way. our forecast doesn't have any harmony breaking out suddenly and there's a grand bargain, nor does it have a government shutdown or the wheels falling off on the p
avoidance rhine hart, morgan stanley's chief economist. he joins us live from new york city. vince, welcome. >> thanks for having me. >> so it's reaching an inflection point. which way is it going? it seems to me the data would say it's going up. >> it's going up, but the inflection point is midyear. i'm on steve's camp that i do see some clouds in the very near term. we do have to get past the fiscal constriction. gasoline prices are hurting particularly low-end consumers....
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but morgan stanley and goldman sachs are kind of close to the bottom. would they, gerard, possibly face resistance from regulators when it comes to their capital plans? >> i am not certain they will face resistance because morgan stanley hasn't indicated they want to just rebuild their capital so they can complete the acquisition of the joint venture with citigroup. so they're not asking for much in terms of capital return. goldman sachs however is. as long as you can come in above the 5% that is the real key number which what happened here with goldman sachs. david: gerard, it was just announced within the beltway they will hold these congressional hearings on jpmorgan's whale trade. just a at a time when jpmorgan seems to emerge quite well from all this. was there any indication at all, usually they're behind a step, by a longshot, congress is in the regulatory policies but is there any indication that that whale strayed, as disasterous as it was really interfered with their viability as a bank? >> oh absolutely not. that trade, let's put it in perspe
but morgan stanley and goldman sachs are kind of close to the bottom. would they, gerard, possibly face resistance from regulators when it comes to their capital plans? >> i am not certain they will face resistance because morgan stanley hasn't indicated they want to just rebuild their capital so they can complete the acquisition of the joint venture with citigroup. so they're not asking for much in terms of capital return. goldman sachs however is. as long as you can come in above the 5%...